economy – News Stories About economy - Page 30

OPINION

Nov 8, 2008 1:08 PM CST

Can Obama Be the New FDR?

Nation needs Roosevelt's action, inspiration

(Newser) - Barack Obama’s call yesterday to “act swiftly” to address the economic crisis clearly echoed Franklin Roosevelt’s inaugural address during the Depression: “action, and action now.” But while Obama's “crisp competence” was welcome, he wasn't particularly inspirational, and, Joe Nocera writes in the New York ...

Business Booming
at Pricey Pawn Shops

Nov 8, 2008 9:15 AM CST

Business Booming at Pricey Pawn Shops

LA's high-end pawn shops report record business

(Newser) - The financial crisis is squeezing its way up the economic ladder. With credit nowhere to be found, LA's high-end pawn shops are "the bank of only resort" for bigwigs who need quick cash for mortgages, plastic surgery, and even movies (that's to make one, not see one). At one...

No Quick Fix
on Economy: Obama

UPDATED

Nov 7, 2008 2:39 PM CST

No Quick Fix on Economy: Obama

US 'strong and resilient,' president-elect says at first news conference

(Newser) - Barack Obama addressed the nation today for the first time since his presidential victory, focusing his remarks on the economy, the New York Times reports. “It is not going to be quick and it’s not going to be easy for us to dig ourselves out of the hole...

Krauthammer: Not Even Reagan Could Have Won

OPINION

Nov 7, 2008 10:39 AM CST

Krauthammer: Not Even Reagan Could Have Won

(Newser) - It’s easy to see what killed John McCain’s presidential ambitions. McCain, ahead on Sept. 15, was crushed by falling banks, writes Charles Krauthammer in the Washington Post. There was a full-fledged panic in America, as the S&P suffered its steepest drop in 71 years. The populace naturally...

Unemployment Hits 14-Year
High; Stocks Flat

MARKET Open

Nov 7, 2008 8:54 AM CST

Unemployment Hits 14-Year High; Stocks Flat

To be fair, they've already had the worst two-day stretch since 1987

(Newser) - The economy lost 240,000 jobs in October, bringing unemployment to 6.5%, its highest rate since 1994. It was the 10th-straight negative month, bringing the year’s losses to 1.2 million. But the staggering report did little to move the needle on Wall Street, as the Dow actually...

Bush, Obama Will
Sit Down Monday

Nov 6, 2008 1:36 PM CST

Bush, Obama Will Sit Down Monday

Transition moving quickly between president, successor

(Newser) - President George W. Bush will meet with Barack Obama early next week to discuss plans for transition, the Washington Post reports. Obama received his first intelligence briefing this morning, and key staffers have been given expedited security clearances. “We face economic challenges that will not pause to let a...

Pelosi Urges
Lame-Duck
Stimulus Bill

Nov 5, 2008 3:56 PM CST

Pelosi Urges Lame-Duck Stimulus Bill

Democrats say bipartisan, White House support crucial to measure

(Newser) - Nancy Pelosi says she hopes to quickly push through a $61 billion economic stimulus package but will need the support of President Bush and the current crop of Senate Republicans, Reuters reports. Pelosi said a "lame duck session" could come as early as Nov. 16. "It depends on...

Key Indicator Points
to a Long Slump

ANALYSIS

Nov 5, 2008 11:38 AM CST

Key Indicator Points to a Long Slump

Yield curve predicts slow recovery in developed economies as credit remains tight

(Newser) - A little known—but closely followed—indicator that contrasts the differences in yield between 2- and a 10-year government securities suggests the economic downturn in the developed world is likely to hang around a lot longer, reports the Wall Street Journal. Yield curves generally are narrow when the economy is...

Credit Crisis 'Froze' Inflation: Dallas Fed Chief

Nov 4, 2008 1:46 PM CST

Credit Crisis 'Froze' Inflation: Dallas Fed Chief

Nevertheless, US is 'navigating the mother of all financial storms'

(Newser) - The credit crisis has had at least one unintended positive effect, stopping a growing threat of inflation, Bloomberg reports. Dallas Fed president Richard Fisher said “inflationary momentum froze in its tracks” as the credit market did the same, but otherwise had a poor view of the economy. “I...

Campaigns Make Florida Election-Eve Battleground

Nov 3, 2008 3:26 PM CST

Campaigns Make Florida Election-Eve Battleground

Obama reprises out-of-touch criticism of McCain, who hits back on economics

(Newser) - Both presidential candidates were on the trail today in Florida, trading jabs from opposite ends of the state, the Miami Herald reports. Barack Obama spoke about the economy in Jacksonville, in the north, the same city where John McCain said the “fundamentals of the economy are strong.” McCain...

The Bush Era:
An 'American Fiasco'

OPINION

Nov 3, 2008 11:38 AM CST

The Bush Era: An 'American Fiasco'

Columnist rips into the White House's 'all-time loser' on election eve

(Newser) - In the waning days of the Bush administration, Simon Schama wonders how the president is handling his role as the “all-time loser in presidential history.” “If the Statue of Liberty were alive,” Schama writes in the Guardian, “she would be weeping tears of blood” over...

Obama, McCain Take Fight
to Pages of Journal

OPINION

Nov 3, 2008 11:14 AM CST

Obama, McCain Take Fight to Pages of Journal

Rivals sounds familiar themes with columns in conservative newspaper

(Newser) - Barack Obama and John McCain are appearing together today on one battleground—the opinion pages of the conservative Wall Street Journal. Obama sticks almost exclusively with economics, mentioning the paper’s own reservations with McCain’s housing rescue plan. He’s also quick to remind readers in upper tax brackets...

As Deadbeats Soar,
Utilities Quick to Pull Plug

Nov 3, 2008 6:51 AM CST

As Deadbeats Soar, Utilities Quick to Pull Plug

As the economy worsens, electric companies get tough on delinquent bills

(Newser) - Utilities are growing increasingly aggressive about shutting off the juice even as more customers struggle to pay their bills in a sinking economy, reports the Wall Street Journal. The trend has regulators and consumer advocates worried companies have become too focused on their bottom lines, but utilities say they’re...

New Home-Sale
Incentive: Free
House Calls

Nov 1, 2008 5:29 PM CDT

New Home-Sale Incentive: Free House Calls

(Newser) - Home sales being a little tricky these days, a luxury developer in the trendy Buckhead section of Atlanta has stumbled onto a unique form of incentive: free house calls from doctors. Deep-pocketed buyers who plunk down $2 million to $12.5 million to live in a new high-rise will get...

Dow Surges Despite GDP Dip

MARKETS

Oct 30, 2008 9:07 AM CDT

Dow Surges Despite GDP Dip

Drop isn't as bad as feared, and rate cuts abroad cheer US traders

(Newser) - Stocks jumped at the opening bell, as international rallies helped offset a shrinking US economy, the Wall Street Journal reports. Gross domestic product shrank at a seasonally adjusted 0.3% annual rate from July to September; the not-as-bad-as-feared figure sent the Dow up 201 points at the open before dipping...

American Airports:
Shiny, New, and Empty

Oct 30, 2008 7:00 AM CDT

American Airports: Shiny, New, and Empty

Decades-long projects completed as industry turns down

(Newser) - In the boom years of the last decade, cities across America broke ground on major airport expansions, from additional runways to new terminals. Now those projects are being completed—just as air travel has slowed and hundreds of planes are being grounded. Flights may be less congested, writes the New ...

CEO: Starbucks Perking Up

Oct 29, 2008 6:14 PM CDT

CEO: Starbucks Perking Up

After drop in third quarter, coffee chain's sales improved in October

(Newser) - Starbucks' CEO says the company is percolating again and may have hit bottom in the quarter that ended in September, the Wall Street Journal reports. The chain again saw declining sales, says Howard Schultz, but he also noted a “slight improvement” in October. Starbucks has been shutting stores, and...

AC/DC Is No. 1?
Must Be a Recession

Oct 28, 2008 6:56 PM CDT

AC/DC Is No. 1? Must Be a Recession

When the band's record sales go up, the economy goes down

(Newser) - Forget complicated economic indicators—the surest sign that recession looms is that AC/DC is back on top of the charts after 28 years, writes Alexis Petridis in the Guardian. It seems that whenever the Aussie rockers have a best-selling album, at least in Britain, the economy's in the tank. See...

Gas Prices in Record Fall

Oct 27, 2008 3:35 AM CDT

Gas Prices in Record Fall

Gas drops 53 cents in two weeks

(Newser) - Gasoline prices have dropped 53 cents in the last two weeks, the steepest decline ever, according to the nationwide Lundberg Survey. The national average price for a gallon of regular unleaded is $2.78, Reuters reports. Wichita, Kansas, has the cheapest gasoline, at $2.26 a gallon, and San Francisco...

Alaska Paper Picks Obama

OPINION

Oct 26, 2008 2:48 PM CDT

Alaska Paper Picks Obama

Anchorage Daily News is wary of both McCain and Palin

(Newser) - Sarah Palin has accomplished a lot and has brought unexpected recognition to Alaska, but for the presidency, Barack Obama is "a clear choice" for the Anchorage Daily News. John McCain has abandoned his maverick positions to curry conservative favor, and the demands of the White House would "stretch...